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CNET Palm prices IPO at $38 per share

Mar 02, 2000, 16:17 (0 Talkback[s])
(Other stories by Dawn Kawamoto)

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"The handheld device company, which is expected to begin trading tomorrow under the ticker "PALM," raised $874 million through the IPO, excluding underwriting fees and other costs. That makes it the third-largest technology IPO ever."

"Palm also may raise another $131 million--putting the value of the IPO at more than $1 billion--if it sells an additional 3.45 million shares to the underwriters to cover over-allotments."

"Earlier this week, Palm essentially doubled its pricing range to $30 to $32 a share from its initial range of $14 to $16 a share. That placed Palm among a small group of companies whose IPOs garnered enough interest to take such a bold step. VA Linux, the top first-day gainer of all time, also had doubled its range as it prepared to debut. VA's initial gain, however, has subsided."

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